Prosperity Now and Wells Fargo Foundation Award $200,000 to 15 Organizations Expanding Access to Free Tax Preparation Services
WASHINGTON, April 11, 2025 /3BL/ - Each year, a significant share of eligible taxpayers do not claim tax credits like the Earned Income Tax Credit (EITC), leaving billions of dollars on the table. In 2021, 22% of eligible households did not receive the EITC, resulting in approximately $8.2 billion in unclaimed refunds. That represents not only missed opportunities for families to strengthen their financial position, but also for communities to benefit from greater local spending and economic activity.
To help address this gap, Prosperity Now, in collaboration with the Wells Fargo Foundation, has awarded $200,000 to 15 community-based organizations through the 2025 VITA Support Fund [see full list below]. These organizations provide no-cost, IRS-certified Volunteer Income Tax Assistance (VITA) services in 12 U.S. markets, ensuring eligible taxpayers can confidently file their returns and claim the full range of refundable credits, including the EITC and the Child Tax Credit (CTC).
Tax preparation services can be costly, with the average price of a basic return nearing $400 for households earning between $20,000 and $60,000 annually. For families already balancing tight budgets, that price tag is out of reach. VITA programs remove that barrier, offering no-cost and accurate filing in trusted, community-based settings.
The selected organizations have a strong record of delivering high-quality services with cultural and community awareness at the center. They are expected to prepare over 20,000 tax returns this year, returning an estimated $25 million in refunds and credits to households who earned them. Many also provide year-round support through financial coaching, connections to safe banking options, and help navigating public benefit programs.
'No one should miss out on tax credits they've earned because they can't afford help filing,' said Marisa Calderon, President & CEO of Prosperity Now. 'When we support community-based tax preparation, we're not only helping families strengthen their financial footing, but we're also keeping dollars circulating in local economies where they can do the most good.'
'Wells Fargo is committed to helping people achieve economic mobility, and one of the first steps is making sure they receive all the money they have earned,' said Bonnie Wallace, head of financial health philanthropy at Wells Fargo. 'Supporting VITA programs is an important way we can make a difference on people's path to financial security.'
The VITA Support Fund reflects Prosperity Now and the Wells Fargo Foundation's shared commitment to expanding financial opportunity through trusted community partnerships.
Meet the 2025 VITA Support Fund Grantees
About the VITA Support Fund
The VITA Support Fund aims to close the gap in tax filing support by investing in organizations that are deeply rooted in the communities they serve. This year's grantees bring language access, cultural relevance, and personalized support to individuals and families who might otherwise face barriers to receiving their full tax refund. The cohort includes trusted partners with strong local ties and organizations expanding their reach through volunteer training, digital tools, and partnerships with schools, faith communities, and service providers.
About Prosperity Now
Since 1979, Prosperity Now has been a trusted leader in strengthening financial security, expanding access to capital, and ensuring economic stability for businesses, families, and communities. We work across sectors to develop practical, scalable solutions that create lasting change. Through innovation, strategic investment, and collaboration, we build the infrastructure needed to sustain small business growth, housing opportunities, and financial well-being in an evolving economic landscape. Learn more at www.prosperitynow.org.
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